If you look back to the previous version of the OREA standard form Agreement of Purchase and Sale, you will find a Confirmation of Execution. It followed the signature line …
Can You Revive an Old Agreement?
The answer is “no”, but a lot of people don’t believe it. Let’s assume that Bob puts in an Offer to buy Bill’s property. The offer is accepted and contains …
Responsibility for False and Misleading Statements
We are all aware that sales agents like to pump their products, merchandise and services. That has been going on for years and the public who believe that are naïve …
Conditions and Escape Clauses
There is always a great deal of confusion and discussion concerning conditions and escape clauses contained in agreements relating to real estate. But, it is really rather straightforward and the …
Use of Counter Offers
The Counter Offer might be a helpful document. Remember that in the process of offers and counter offers, it is only the agent-to-agent communication which must be transmitted by fax …
Vacant Possession: Is there a Precise Time?
This is a simple question and sometimes gives rise to significant problems. The general advice given by lawyers traditionally has been that vacant possession must be given by the “actual …
Can I Terminate for “Seller’s Remorse”?
Question: We’ve accepted a registered offer on our home. We now have sellers’ remorse and would like to reject it before the home inspection. Can this be done? We have signed …
Can an Offer be Revoked?
This seems to be a question that arises rather frequently. Let’s have a look at some of the issues. Question: Consider the following scenario. A Broker from a Cooperating Brokerage …
Failure to Clarify “Closing Date”
In order to be “enforceable”, real estate contracts must be “definite and clear”. So, here, the Courts will look to: 1) parties, (sufficient to identify) 2) price, (capable of ascertainment) 3) description, …
Failure to Clarify “Description”
In order to be “enforceable”, real estate contracts must be “definite and clear”. So, here, the Courts will look to: 1) parties, (sufficient to identify) 2) price, (capable of ascertainment) 3) description, …